Naira Appreciates to N358/$ in Parallel Market

Naira Appreciates to N358/$ in Parallel Market

The naira yesterday appreciated to N358 against the dollar in the parallel market, dropping from N359 on Monday. This translates to 10 kobo appreciation of the naira.

Yesterday, the naira yesterday was depreciated to N362.60 per dollar in the Investors and Exporters (I&E) window even as the volume of dollars traded rose by 136 percent

Data from FMDQ also showed that the indicative exchange rate for the window rose to N362.60 per dollar yesterday from N362.50 per dollar on Monday, translating to 10 kobo depreciation of the naira. The volume of dollars traded on the window yesterday rose marginally by 136 percent to $167.78 from $71.14 million traded on Monday.